Canaccord analyst Austin Moeller lowered the firm’s price target on Cibus (CBUS) to $17.50 from $18 and keeps a Buy rating on the shares. The firm noted Cibus is not yet generating meaningful commercial revenues at this point in the company’s lifecycle. However, through contract research on behalf of customers relating to collaborative agreements for products and traits, the company has consistently generated some quarterly revenue in advance of major trait commercializations. Cibus’ nearest-term revenue-generation opportunity continues is its sustainable ingredients biofragrance product pipeline.
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